Smartsheet (NYSE:SMAR) PT Raised to $56.00

Smartsheet (NYSE:SMAR) had its price target hoisted by research analysts at UBS Group from $54.00 to $56.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 26.44% from the stock’s current price.

SMAR has been the topic of several other research reports. DA Davidson dropped their price target on shares of Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. JPMorgan Chase & Co. reduced their price target on Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Barclays lifted their price objective on Smartsheet from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday. Oppenheimer reduced their target price on Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Finally, KeyCorp initiated coverage on shares of Smartsheet in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.75.

Smartsheet Trading Up 0.0 %

Shares of SMAR stock opened at $44.29 on Thursday. The company’s fifty day simple moving average is $39.10 and its 200-day simple moving average is $42.35. Smartsheet has a 52 week low of $35.52 and a 52 week high of $49.42. The company has a market cap of $6.09 billion, a PE ratio of -71.43 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.17. Smartsheet had a negative return on equity of 12.42% and a negative net margin of 8.35%. The company had revenue of $256.95 million for the quarter, compared to analysts’ expectations of $254.99 million. Equities research analysts expect that Smartsheet will post -0.43 EPS for the current fiscal year.

Insider Transactions at Smartsheet

In related news, CRO Michael Arntz sold 7,702 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the transaction, the executive now owns 12,718 shares in the company, valued at approximately $501,597.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total transaction of $391,688.43. Following the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at $1,714,859.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Michael Arntz sold 7,702 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the transaction, the executive now owns 12,718 shares in the company, valued at approximately $501,597.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,770 shares of company stock worth $1,132,791. 4.52% of the stock is currently owned by company insiders.

Institutional Trading of Smartsheet

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Smartsheet during the 4th quarter worth about $68,879,000. RGM Capital LLC bought a new position in Smartsheet in the 3rd quarter worth approximately $50,705,000. Eminence Capital LP boosted its stake in shares of Smartsheet by 58.3% in the 3rd quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock valued at $134,698,000 after purchasing an additional 1,226,189 shares during the last quarter. Swedbank AB acquired a new stake in shares of Smartsheet during the first quarter worth $38,388,000. Finally, Granahan Investment Management LLC boosted its position in shares of Smartsheet by 908.1% during the fourth quarter. Granahan Investment Management LLC now owns 1,040,724 shares of the company’s stock worth $49,767,000 after purchasing an additional 937,483 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Smartsheet Company Profile

Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.